Rio Tinto Group (LON:RIO) Given “Buy” Rating at Berenberg Bank

Rio Tinto Group (LON:RIO)‘s stock had its “buy” rating restated by equities research analysts at Berenberg Bank in a research report issued to clients and investors on Thursday, Digital Look reports. They presently have a GBX 8,700 price objective on the stock. Berenberg Bank’s target price indicates a potential upside of 29.35% from the company’s previous close.

Several other research firms have also recently weighed in on RIO. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a GBX 7,400 price objective on shares of Rio Tinto Group in a report on Tuesday, October 6th. Royal Bank Of Canada reissued an “underperform” rating and set a GBX 6,100 target price on shares of Rio Tinto Group in a research note on Wednesday, July 29th. Citigroup lowered their target price on Rio Tinto Group from GBX 8,280 to GBX 8,250 and set a “neutral” rating for the company in a research note on Friday, July 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Rio Tinto Group from GBX 8,270 to GBX 8,200 and set a “neutral” rating on the stock in a report on Tuesday, July 28th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of GBX 7,721.43.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock opened at GBX 6,726 on Thursday. The company has a market capitalization of £109.39 billion, a PE ratio of 9.11, a PEG ratio of -0.64 and a beta of 0.66. Rio Tinto Group has a 12 month low of GBX 5,029 and a 12 month high of GBX 8,325. The company has a current ratio of 1.42, a quick ratio of 1.34 and a debt-to-equity ratio of 34.91. The stock’s fifty day simple moving average is GBX 7,313.61 and its 200 day simple moving average is GBX 7,342.54.

Rio Tinto Group Company Profile

We operate in 35 countries where our 60,000 employees are working to find better ways to provide the materials the world needs. Our portfolio includes iron ore, copper, aluminium and a range of other minerals and materials needed for people, communities and nations to grow and prosper, and for the world to cut carbon emissions to net zero. We continuously search for new projects that can support the energy transition, currently exploring for 7 commodities in 17 countries.

We have more than 150 years of mining and processing experience guiding our work.